https://www.taxtmi.com/caselaws?id=194668 The Appellate Tribunal partly allowed the appellant's appeal for AY 2004-05, fully allowed it for AY 2009-10, and dismissed the Revenue's appeals. The issues revolved around the denial of benefits under sections 11 and 12 of the Income Tax Act due to an alleged violation of section 13(1)(d) concerning TISCO shares, and the allowance of depreciation on assets previously treated as applied income. The ITAT ruled in favor of the appellant, emphasizing the apportionment of income eligible for benefits and the permissibility of claiming depreciation on assets acquired from exempt income application. en-us Fri, 13 Mar 2015 00:00:00 +0530 Mon, 08 Aug 2022 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194668 The Appellate Tribunal partly allowed the appellant's appeal for AY 2004-05, fully allowed it for AY 2009-10, and dismissed the Revenue's appeals. The issues revolved around the denial of benefits under sections 11 and 12 of the Income Tax Act due to an alleged violation of section 13(1)(d) concerning TISCO shares, and the allowance of depreciation on assets previously treated as applied income. The ITAT ruled in favor of the appellant, emphasizing the apportionment of income eligible for benefits and the permissibility of claiming depreciation on assets acquired from exempt income application. Case-Laws Income Tax Fri, 13 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194668